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On Friday, the S & P / ASX 200 Index (ASX: XJO) ended the week on a positive note. The benchmark rose 0.8% to 7,238.8 points.
Will the market be able to build it on Monday? Here are five things to see:
ASX 200 is expected to drop
The Australian stock market looks set to start the week in the red after a very poor night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open 33 points or 0.45% lower this morning. On Wall Street, the Dow Jones fell 1.05%, the S&P 500 fell 1.6% and the Nasdaq fell 2.5%.
Oil prices are rising
Energy producers Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good start to the week after oil prices rose on Friday. According to Bloomberg, the price of WTI crude oil rose 1.7% to $ 118.87 a barrel and the price of Brent crude oil rose 1.8% to $ 119.72 a barrel. The reduced supply offset the news that OPEC plans to increase production.
ASX 200 rebalancing
S&P Dow Jones Indices has announced changes to the ASX 200 index in the next rebalancing. Notable changes include Appen Ltd (ASX: APX) and PolyNovo Ltd (ASX: PNV) which were kicked out on June 20th. Brainchip Holdings Ltd (ASX: BRN) and Core Lithium Ltd (ASX: CXO) are among the new entrants to the benchmark.
The price of gold is falling
Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a difficult start to the week after the price of gold fell on Friday night. According to CNBC, the price of gold in cash has dropped 1.1% to $ 1,850.2 an ounce. Strong employment data in the United States spurred bets on raising rates.
Liontown shares surveillance
The share price of Liontown Resources Limited (ASX: LTR) will be pending this morning. The lithium developer is due to post an update today on its deal with electric vehicle giant Tesla. Tesla is expected to subscribe to 150,000 dry metric tons of spodumen concentrate from the Kathleen Valley lithium project.